Enterprising Hospitality
Date PublishedFeb 23, 2021
Published byNicholas Denmon >

Fortunately, hoteliers have some of the most advanced enterprise financial technology available, and with cloud solutions tailored specifically for hotels,forecasting on the fly will not be an issue.

Cost drivers and benchmarking goals have emerged as two key focal points for hoteliers, with asset management also becoming another critical area for hoteliers to pay close attention to in their 2021 budgeting and forecasting plans. Hoteliers are tasked with reorganizing cost-driver and benchmarking goals to realistically manage their hotels’ demands and are quickly pivoting to adjust to new asset management strategies for 2021. While a typical mindset would push for growing strong assets, managing distressed assets has become a major focus for hoteliers this year.